创新医疗管理股份有限公司 2025 年半年度报告全文 创新医疗管理股份有限公司 2025 年半年度报告 2025 年 8 月 1 创新医疗管理股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会及董事、高级管理人员保证半年度报告内容的真实、准确、完 整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责 任。 公司负责人陈海军、主管会计工作负责人杨建荣及会计机构负责人(会计 主管人员)杨建荣声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本年度报告涉及未来计划等前瞻性陈述，不构成公司对投资者的实质承诺， 请投资者注意投资风险。 本公司请投资者认真阅读本报告，公司在本报告"管理层讨论与分析"中 "公司面临的风险和应对措施"部分，描述了公司未来经营可能面临的主要风 险，敬请广大投资者注意风险。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 2 | | | | 第一节 重要提示、目录和释义 | | 2 | | --- | --- | --- | | 第二节 公司简介和主要财务指标 | | 6 | | 第三节 ...

Group 1: A-share Market Performance - The A-share market experienced narrow fluctuations, with the Shanghai Composite Index slightly increasing by 0.07% and the Shenzhen Component Index rising by 0.14% [2] - The brain-computer interface (BCI) concept sector saw significant gains, with the Wind BCI Index rising over 3% during trading [5][6] - Notable stocks in the BCI sector included Sino Medical, which hit a 20% limit up, and other companies like Optoelectronics and Lepu Medical also saw substantial increases [5][6] Group 2: Brain-Computer Interface Industry Insights - The Ministry of Industry and Information Technology and other governmental bodies released an implementation opinion to promote the high-quality development of the BCI industry [6][7] - The implementation opinion emphasizes the integration of biological intelligence and machine intelligence, aiming for breakthroughs in key technologies by 2027 [7] - The BCI sector is positioned as a critical area for technological and industrial innovation, with expectations for a robust production and standards system [7] Group 3: New Stock Listings - Two new stocks were listed on the A-share market, both experiencing significant price increases, with Youli Intelligent rising over 300% and Tianfulong increasing by over 240% during trading [8][10] - Youli Intelligent specializes in photovoltaic support structures, while Tianfulong focuses on differentiated polyester short fibers and new materials for solar panel protection [9][12] Group 4: Hong Kong Market Performance - The Hong Kong market showed a lackluster performance, with the Hang Seng Index falling below the 25,000-point mark [13] - Among the constituents, stocks like Kowloon Warehouse and SMIC saw notable declines, while companies such as CSPC Pharmaceutical and China Hongqiao led the gains [14] - Dongfeng Group's shares surged by over 14% despite a profit warning indicating a significant expected decline in net profit for the first half of the year [15]

Core Viewpoint - The brain-computer interface (BCI) sector is experiencing significant growth driven by favorable government policies and technological advancements, with expectations for substantial market expansion in the coming years [1][4]. Group 1: Market Performance - On August 8, stocks related to the brain-computer interface concept surged, with notable gains including Beiyikang at 13% limit up and Sanbo Brain Science at over 11% [1]. - Other companies such as Innovation Medical and Jihua Group also reached their limit up, indicating strong market interest [1]. Group 2: Government Policies - The Ministry of Industry and Information Technology, along with six other departments, issued implementation opinions aimed at promoting innovation in the BCI industry, targeting breakthroughs in key technologies by 2027 [2]. - By 2030, the goal is to establish a reliable industrial system and cultivate globally influential leading enterprises within the BCI sector [2]. Group 3: Industry Insights - The National Medical Insurance Administration has introduced a pricing mechanism for newly launched drugs and medical devices, facilitating the commercialization of new technologies [3]. - Recent reports indicate that the BCI sector is accelerating its commercial transformation, with non-invasive applications in medical rehabilitation and emotional management gaining traction [4]. - The domestic BCI market is expected to expand rapidly, supported by favorable policies and advancements in technology [4].

Group 1 - The brain-computer interface concept stocks have seen a significant increase, with companies like Innovation Medical and Jihua Group reaching their daily limit up [1] - Beikang has risen over 20%, while Sanbo Neuroscience, Aipeng Medical, and Chengyitong have all increased by more than 10% [1]

Group 1 - The brain-computer interface sector opened high, with Innovation Medical (002173) hitting the limit-up price at the opening [1] - Sanbo Brain Science (301293), Jihua Group (601718), Zhongke Information (300678), and Xiangyu Medical also experienced upward movement [1]

Market Overview - A-share indices showed mixed performance on August 7, 2025, with the Shanghai Composite Index slightly up by 0.16% closing at 3639.67 points, while the Shenzhen Component and ChiNext fell by 0.18% and 0.68% respectively [1] - Total trading volume across Shanghai, Shenzhen, and Beijing reached 1852.74 billion yuan, with 3116 stocks declining and 2150 stocks rising [1] Electronic Sector - The electronic sector was a market highlight with 13 stocks hitting the daily limit up, including Tianyu Digital Science and Technology, which closed at 7.45 yuan with a limit-up order volume of 295 million yuan [2] - The wireless earphone concept saw an overall increase of 1.08%, with stocks like Ningbo Yunsheng and Huasheng Tiancai receiving over 500 million yuan in net inflows, indicating growing investor interest in the consumer electronics supply chain [2] Rare Earth Permanent Magnet Sector - The rare earth permanent magnet sector continued its recent upward trend, with stocks like Ningbo Yunsheng and Zhenghai Magnetic Materials hitting the daily limit up [3] - Ningbo Yunsheng attracted a net inflow of 565 million yuan, closing at 13.17 yuan with a turnover rate of 15.48%, driven by increasing demand for rare earth materials in the electric vehicle and wind power sectors [3] Medical Sector - The medical and biological sector exhibited a structural market, with stocks like Innovation Medical and Shangrong Medical hitting the daily limit up [4] - Innovation Medical closed at 17.47 yuan with a turnover rate of 30.10% and a limit-up order volume exceeding 130 million yuan, while other segments like CXO and innovative drugs showed weak performance, highlighting significant capital divergence within the sector [4] Fund Flows - The semiconductor sector saw a net inflow of 4.467 billion yuan, followed by medical devices and energy metals [5] - Conversely, the automotive parts sector experienced a net outflow of 4.185 billion yuan, with noticeable withdrawals in specialized equipment and chemical pharmaceuticals [5] - Stocks like Great Wall Military Industry, Huasheng Tiancai, and Jihua Group were among those with significant limit-up order volumes, reflecting short-term capital preferences for military and computing sectors [5]

Core Viewpoint - The article highlights the significant policy support for the brain-computer interface (BCI) industry, with a focus on the implementation opinions released by multiple government departments aimed at fostering innovation and development in this sector by 2027 [1][2]. Summary by Sections Policy Implementation - On August 7, a joint implementation opinion was released by several government bodies, outlining 17 specific measures to promote the innovation and development of the BCI industry [2]. - The opinion sets a target for breakthroughs in key BCI technologies by 2027, establishing advanced technical, industrial, and standard systems [4]. Technological Development Goals - By 2027, the performance of electrodes, chips, and complete products is expected to reach international advanced levels, with applications in industrial manufacturing, healthcare, and consumer life accelerating [4]. - By 2030, the BCI industry is anticipated to significantly enhance its innovation capabilities, nurturing 2 to 3 globally influential leading enterprises and a number of specialized small and medium-sized enterprises [4]. Product Innovation - The implementation opinion emphasizes the need for high-performance products, including breakthroughs in implantable devices and the development of new product forms such as adhesive, ear, and clip-on devices [4][5]. - There is a focus on developing high-channel, high-speed brain signal acquisition chips and auxiliary devices that integrate multiple physiological signals to improve interaction control and perception assessment accuracy [5]. Industry Growth and Support - The opinion encourages the growth of leading enterprises in the BCI field and the formation of industry innovation consortia, supporting the cultivation of technology-driven small and medium enterprises [5]. - The BCI industry is expected to receive substantial support from the government, with new pricing mechanisms for medical devices related to BCI technology being established [7]. Market Potential - The global BCI market is projected to reach approximately $7 billion by 2030, with a compound annual growth rate (CAGR) of 16.4% from 2025 to 2030 [8]. - The domestic BCI market is expected to grow significantly, with a market size of 1.73 billion yuan in 2023, reflecting an increase of over 5% compared to 2020 [8]. - By 2040, the Chinese BCI market is forecasted to exceed 120 billion yuan, with an annual growth rate of 26% [8].

具体来看，今日上榜的营业部中，共有4家机构专用席位现身，即买三、卖一、卖二、卖三、卖四，合 计买入金额7562.11万元，卖出金额1.85亿元，合计净卖出1.09亿元。 近半年该股累计上榜龙虎榜7次，上榜次日股价平均跌0.68%，上榜后5日平均涨0.65%。 创新医疗今日涨停，全天换手率30.10%，成交额20.50亿元，振幅11.20%。龙虎榜数据显示，机构净卖 出1.09亿元，营业部席位合计净买入1.36亿元。 深交所公开信息显示，当日该股因日涨幅偏离值达10.05%上榜，机构专用席位净卖出1.09亿元。 证券时报·数据宝统计显示，上榜的前五大买卖营业部合计成交4.54亿元，其中，买入成交额为2.41亿 元，卖出成交额为2.13亿元，合计净买入2719.90万元。 （文章来源：证券时报网） 资金流向方面，今日该股主力资金净流入2.26亿元，其中，特大单净流入2.11亿元，大单资金净流入 1546.04万元。近5日主力资金净流入3.98亿元。（数据宝） 创新医疗8月7日交易公开信息 | 买/卖 | 会员营业部名称 | 买入金额（万元） | 卖出金额（万元） | | --- | --- | --- | --- ...

近5日融资融券数据一览见下表： 证券之星消息，截至2025年8月6日收盘，创新医疗(002173)报收于15.88元，下跌2.16%，换手率 25.49%，成交量106.11万手，成交额16.88亿元。 8月6日的资金流向数据方面，主力资金净流出1.65亿元，占总成交额9.77%，游资资金净流出4099.22万 元，占总成交额2.43%，散户资金净流入2.06亿元，占总成交额12.2%。 近5日资金流向一览见下表： | | | | | 日期 收盘价 涨跌幅 主力净流入 主力净占比 游资净点比 游资净占比 散户净占比 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-08-06 | 15.88 | -2.16% | -1.65 Z | -9.77% | -4099.22万 | -2.43% | 2.06亿 | - 12.20% | | 2025-08-05 | | 16.23 10.03% | 4.65 亿 | 28.40% | -2.26亿 | -13.78% | -2.39 Z | -14.62% | | 202 ...

Group 1: Communication Equipment - Dongxin Peace has a net buying amount of 207 million, indicating significant institutional interest with a turnover rate of 20.87% and a transaction volume of 1.8 billion [3] - The breakthrough in large-scale array technology by ZTE Corporation has secured its position in the 6G standard, contributing to a 1.75% increase in the communication equipment index [3] - Dongxin Peace, as a leader in smart cards, is deeply integrated with operators' 5G-A construction, with expectations of at least doubling its performance upon the commercial rollout of 6G [3] Group 2: Medical Services - Innovation Medical has a net buying amount of 200 million, with a 10% increase and a 25% turnover rate, indicating a robust exchange of shares [3] - The approval of the second-class certification for the Bolein brain-machine upper limb exoskeleton rehabilitation device is set to tap into the billion-dollar home rehabilitation market [3] - With over 380 million people aged 60 and above in China, the demand for rehabilitation services is expected to grow by 15% annually, positioning the company for long-term benefits despite a previous loss of 34.29 million [3] Group 3: Automation Equipment - Aerospace Science and Technology has seen foreign capital increase by 52.74 million, driven by two main factors: a recovery in orders and foreign exchange gains [3] - The company is projected to turn a profit of 12.27 million in 2024 after a loss of 14.6 million in 2023, indicating a clear turnaround strategy [3] - The push for smart vehicles by policy support is expected to enhance the company's valuation recovery [5] Group 4: Foreign Capital Adjustment - Zhongyida has attracted 49.68 million from the Shanghai Stock Connect, focusing on phosphate chemical production for new energy battery materials, showcasing a strong technical barrier [4] - Aerospace Science and Technology's foreign capital increase reflects a strategic focus on leading technologies in the automotive sector, with 76% of its revenue coming from overseas [4] - The national equipment update fund of 10 billion is now in place, with over 30% penetration in intelligent transformation [4]